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Income Tax Return Types, Filing dates, Verification & Consequences of not filing

Type of Income Tax Returns, Due date of filing Income Tax Return, Verification and Consequences of not filing Income Tax return Who is required to file Income Tax Return? Section 139 (1): every person, a) being a company or firm; or b) being a person other than a company or a firm, i) if his […]...

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Posted Under: Income Tax |

Security services under GST law – Transition to RCM

Security service is a service wherein a person supplies security personnel to another person for a consideration. In the erstwhile Service tax regime, security services provided by individual, HUF or partnership firm to a body corporate were covered under Reverse Charge Mechanism (RCM). However, with the enactment of Goods & Services ...

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Posted Under: Income Tax |

HC should have condoned delay in removing office objections : SC

CIT Vs M/s Reliance Industries Ltd. (Supreme Court of India)

CIT Vs M/s Reliance Industries Ltd. (Supreme Court of India) The appeal was filed by the Department (appellant herein) before the High Court against the judgment of the Income Tax Appellate Tribunal (ITAT). However, the said appeal was defective and the appellant took abnormal time of 1371 days in removing those defects. An application fo...

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Misconduct Allegations against CS not sustainable in absence of Evidence

Shri Nizar Mawani Vs Shri Ajay Moreshwar Antarkar (ICSI)

Shri Nizar Mawani Vs Shri Ajay Moreshwar Antarkar (ICSI Disciplinary Committee ) The Disciplinary Committee and after considering all the material on record and after considering all the facts and circumstance of the matter observed that the instant case has arisen out of an affidavit purportedly filed before CLB, Mumbai, by the Responden...

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Posted Under: Income Tax |

Default in issuing Form 16 Salary TDS certificates makes employer liable to prosecution

Ramprakash Biswanath Shroff  Vs CIT (TDS) (Bombay High Court)

The petitioner says that he is a senior citizen of 65 years of age and because he is not in possession of Form No.16, he has suffered at the hands of the Department. Let, therefore, the necessary steps be taken in law so that such occurrences are avoided in future....

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Merely holding shares for a short period will not convert capital gain into business income

Pr. CIT Vs M/s Viksit Engineering Ltd. (Bombay High Court)

Pr. CIT Vs M/s Viksit Engineering Ltd. (Bombay High Court) We note the fact, that the issue of classification of income on sale of shares as business income or as short term capital gains is to be decided the facts of each case. The tests to be applied for such determination is provided in CBDT Circular No.4 of […]...

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Section 148 notice cannot be issued against deceased Assessee

Rajender Kumar Sehgal Vs ITO (Delhi High Court)

Rajender Kumar Sehgal Vs ITO (Delhi High Court) When the notice was issued, the assessee was already dead. If the Department intended to proceed under Section 147 of the Act, it could have done so prior to 31st March 2017 by issuing a notice to the LRs of the deceased. Beyond that date it could […]...

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Bihar relaxes e-way bill requirement

Notification No. S.O. 14 (14/01/2019)

The e-way bill in respect of movement of goods originating and terminating in the State of Bihar shall not be required to be generated where the consignment value does not exceed One Lac Rupees...

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Expense without supporting document / evidence is not allowable

Schwing Stetter (India) Private Limited Vs DCIT (ITAT Chennai)

Expense without supporting document / evidence is not allowable...

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Reg. Exemption from payment of late fee for delayed profession tax payment in Maharashtra

Trade Circular No. 6T of 2019 (14/01/2019)

If it is found that the employer has not fulfilled the conditions or has submitted false information to avail the benefit of exemption then, his exemption of late fee shall be revoked and action will be taken against him as per the provisions of law....

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